The means test is a calculation that helps determine if you qualify for a Chapter 7 bankruptcy. Essentially, it aims to verify if your income is low enough to be eligible for debt discharge, which is the elimination of your legal obligations to repay your debts....
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Bankruptcy
Can I file for bankruptcy more than once?
When financial troubles resurface after a previous bankruptcy, you might wonder if there is still hope for a fresh start. Can you file for bankruptcy for a second, third or even fourth time? Filing for bankruptcy multiple times is a topic that deserves careful...
Debunking common myths about Chapter 7 bankruptcy
There is much misinformation surrounding Chapter 7 bankruptcy. Below are two of them – and the truth behind these myths. Myth 1 – You will lose all your assets One of the biggest misconceptions is that you will lose everything you own. In reality, Chapter 7 bankruptcy...
What are automatic stays in Chapter 7 bankruptcy?
When you face overwhelming debt, filing for Chapter 7 bankruptcy can feel like a lifeline. The automatic stay is one of the most immediate and powerful benefits of this process. It is essential to understand what this means for you and how it can provide much-needed...
Looking to file for Chapter 7 bankruptcy? Make sure you’re eligible
Bankruptcy can be a challenging and confusing process for many people. If you're considering filing for Chapter 7 bankruptcy in Missouri, it is important to be aware of the requirements you may have to fulfill. Understanding the requirements can help you move forward...
How can credit counseling help my finances?
If you are considering filing for bankruptcy, you may be in need of credit counseling. Through this process, you may gain valuable insights and strategies for managing your money. Whether you are grappling with credit card bills, medical expenses or other debts, a...
Is a Chapter 7 bankruptcy the best option for your financial problems?
There are numerous big-ticket purchases you may have to make throughout your life. It may be a car, a house, a major vacation, jewelry, and real estate, among others. You may also need to pay for a wedding or invest in an income-generating venture. Ideally, you may...
Don’t panic — explore bankruptcy options
When a financial crisis hits a Missouri household, stress and anxiety are soon to follow. In some cases, a few cutbacks in spending and updating the budget can help get things back on track. Other situations are more dire, such as if you have received a Notice of...
File an exemption to retain your car in a Chapter 7 bankruptcy
It’s a good thing that there are debt relief options available for Missouri residents who encounter serious financial problems. Some are business owners, while others are simply trying to make ends meet at home. Chapter 7 bankruptcy is a tool that has helped many...
Filing Chapter 7 bankruptcy, then buying a home
Many people in Missouri and elsewhere have been hit hard by financial crisis in recent years. Financial problems are not isolated among a specific age group or lifestyle. Thankfully, the Chapter 7 bankruptcy program exists to help those who qualify discharge their...